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Almirall acquires Allergan’s dermatology portfolio for $650m

The pharma group buys four products along with Allergan's first-in-class antibiotic Seysara

Almirall

In a deal worth $650m, Spanish pharmaceutical company Almirall is set to buy Allergan’s US-based medical dermatology unit.

The Barcelona-based group has offered to pay $550m upfront for the portfolio and a further $100m conditional to product performances.

Perhaps the most interesting product in the portfolio is first-in-class tetracycline-derived drug Seysara, which is the first oral antibiotic that has been specifically designed for dermatology in 40 years.

This particular treatment is aimed to treat moderate-to-severe acne vulgaris in patients aged nine years and older and is scheduled for FDA evaluation later this year.

If approved, Seysara could pull in predicted annual sales of $200m for Almirall.

Almirall will also adopt a further four already-marketed products, including acne treatments Aczone, Tazorac and Azelex, and lastly Cordran Tape, indicated for a variety of skin conditions.

These four products generated total sales of $70m in the first half of this year.

Peter Guenter, chief executive officer of Almirall said the deal was “transformational” for Almirall, adding that it will “reinforce and consolidate” its position in the “world’s largest dermatology market”.

He said the deal encompasses a “well-balanced portfolio of mature and growth brands with a major launch opportunity of an innovative New Chemical Entity (NCE)”.

The deal, which is expected to be finalised towards the end of this year, will increase Almirall’s net sales to nearly 45% from 34%, making dermatology Almirall’s main growth driver.

Guenter added: “[The portfolio] is perfectly complementary to our existing platform and will be immediately accretive to our earnings.

“It offers us medium to long term top and bottom line growth opportunities. Moreover, it will allow for an expanded platform to launch KX2-391, which has the potential to become a new standard of care in actinic keratosis.”

Actinic keratosis is a skin condition which frequently results from years of exposure to sun, and involves the formation of rough, scaly patches of skin, which untreated also carries a raised risk of progression to squamous cell carcinoma.

Article by
Gemma Jones

6th August 2018

From: Sales

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